Traditional IRA worksheet

1. After-tax value at age 50: $67,118.15

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $10,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{16\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.07\right)+\mathrm{\$6,750.00}$$=\mathrm{\$6,750.00}$

6. Repeat that for 8 years to get the balance when you retire

   $\text{IRA at age 50}$$=\mathrm{\$69,253.67}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$69,253.67}-\mathrm{\$54,000.00}$$=\mathrm{\$15,253.67}$

8. Withdrawals are taxed as income. At a 14% rate, this is the tax

   $\mathrm{\$15,253.67}\times \mathrm{14\%}$$=\mathrm{\$2,135.51}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$69,253.67}-\mathrm{\$2,135.51}$$=\mathrm{\$67,118.15}$

2. After-tax value at age 55: $244,917.00

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income (MAGI) is at or below $129,000.00, where the phase-out starts, so the full amount is deductible

   $\text{deductible limit}$$=\mathrm{\$7,500.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$7,500.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$7,500.00}\times \mathrm{26\%}$$=\mathrm{\$1,950.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.06\right)+\mathrm{\$7,500.00}$$=\mathrm{\$7,500.00}$

6. Repeat that for 21 years to get the balance when you retire

   $\text{IRA at age 55}$$=\mathrm{\$306,146.25}$

7. Withdrawals are taxed as income. At a 20% rate, this is the tax

   $\mathrm{\$306,146.25}\times \mathrm{20\%}$$=\mathrm{\$61,229.25}$

8. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$306,146.25}-\mathrm{\$61,229.25}$$=\mathrm{\$244,917.00}$

3. After-tax value at age 65: $633,749.16

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $91,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{20\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.04\right)+\mathrm{\$7,500.00}$$=\mathrm{\$7,500.00}$

6. Repeat that for 39 years to get the balance when you retire

   $\text{IRA at age 65}$$=\mathrm{\$688,080.42}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$688,080.42}-\mathrm{\$300,000.00}$$=\mathrm{\$388,080.42}$

8. Withdrawals are taxed as income. At a 14% rate, this is the tax

   $\mathrm{\$388,080.42}\times \mathrm{14\%}$$=\mathrm{\$54,331.26}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$688,080.42}-\mathrm{\$54,331.26}$$=\mathrm{\$633,749.16}$

4. After-tax value at age 60: $329,765.13

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $10,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{25\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.09\right)+\mathrm{\$7,000.00}$$=\mathrm{\$7,000.00}$

6. Repeat that for 20 years to get the balance when you retire

   $\text{IRA at age 60}$$=\mathrm{\$358,120.84}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$358,120.84}-\mathrm{\$140,000.00}$$=\mathrm{\$218,120.84}$

8. Withdrawals are taxed as income. At a 13% rate, this is the tax

   $\mathrm{\$218,120.84}\times \mathrm{13\%}$$=\mathrm{\$28,355.71}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$358,120.84}-\mathrm{\$28,355.71}$$=\mathrm{\$329,765.13}$

5. After-tax value at age 64: $1,292,801.79

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $10,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{22\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.07\right)+\mathrm{\$7,500.00}$$=\mathrm{\$7,500.00}$

6. Repeat that for 40 years to get the balance when you retire

   $\text{IRA at age 64}$$=\mathrm{\$1,522,068.88}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$1,522,068.88}-\mathrm{\$315,400.00}$$=\mathrm{\$1,206,668.88}$

8. Withdrawals are taxed as income. At a 19% rate, this is the tax

   $\mathrm{\$1,206,668.88}\times \mathrm{19\%}$$=\mathrm{\$229,267.09}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$1,522,068.88}-\mathrm{\$229,267.09}$$=\mathrm{\$1,292,801.79}$

6. After-tax value at age 55: $164,149.03

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $91,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{19\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.06\right)+\mathrm{\$6,750.00}$$=\mathrm{\$6,750.00}$

6. Repeat that for 16 years to get the balance when you retire

   $\text{IRA at age 55}$$=\mathrm{\$173,289.56}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$173,289.56}-\mathrm{\$108,000.00}$$=\mathrm{\$65,289.56}$

8. Withdrawals are taxed as income. At a 14% rate, this is the tax

   $\mathrm{\$65,289.56}\times \mathrm{14\%}$$=\mathrm{\$9,140.54}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$173,289.56}-\mathrm{\$9,140.54}$$=\mathrm{\$164,149.03}$

7. After-tax value at age 50: $148,643.33

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income (MAGI) is at or below $81,000.00, where the phase-out starts, so the full amount is deductible

   $\text{deductible limit}$$=\mathrm{\$7,500.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$6,500.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$6,500.00}\times \mathrm{12\%}$$=\mathrm{\$780.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.07\right)+\mathrm{\$6,500.00}$$=\mathrm{\$6,500.00}$

6. Repeat that for 16 years to get the balance when you retire

   $\text{IRA at age 50}$$=\mathrm{\$181,272.35}$

7. Withdrawals are taxed as income. At a 18% rate, this is the tax

   $\mathrm{\$181,272.35}\times \mathrm{18\%}$$=\mathrm{\$32,629.02}$

8. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$181,272.35}-\mathrm{\$32,629.02}$$=\mathrm{\$148,643.33}$

8. After-tax value at age 80: $5,609,436.67

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income (MAGI) is at or below $81,000.00, where the phase-out starts, so the full amount is deductible

   $\text{deductible limit}$$=\mathrm{\$7,500.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$6,800.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$6,800.00}\times \mathrm{24\%}$$=\mathrm{\$1,632.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.09\right)+\mathrm{\$6,800.00}$$=\mathrm{\$6,800.00}$

6. Repeat that for 52 years to get the balance when you retire

   $\text{IRA at age 80}$$=\mathrm{\$6,599,337.26}$

7. Withdrawals are taxed as income. At a 15% rate, this is the tax

   $\mathrm{\$6,599,337.26}\times \mathrm{15\%}$$=\mathrm{\$989,900.59}$

8. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$6,599,337.26}-\mathrm{\$989,900.59}$$=\mathrm{\$5,609,436.67}$

9. After-tax value at age 50: $308,736.16

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income (MAGI) is at or below $129,000.00, where the phase-out starts, so the full amount is deductible

   $\text{deductible limit}$$=\mathrm{\$7,500.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$7,500.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$7,500.00}\times \mathrm{22\%}$$=\mathrm{\$1,650.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.07\right)+\mathrm{\$7,500.00}$$=\mathrm{\$7,500.00}$

6. Repeat that for 22 years to get the balance when you retire

   $\text{IRA at age 50}$$=\mathrm{\$367,543.04}$

7. Withdrawals are taxed as income. At a 16% rate, this is the tax

   $\mathrm{\$367,543.04}\times \mathrm{16\%}$$=\mathrm{\$58,806.89}$

8. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$367,543.04}-\mathrm{\$58,806.89}$$=\mathrm{\$308,736.16}$

10. After-tax value at age 65: $254,871.95

1. Start with the 2026 IRA limit for people under 50

   $\text{limit}$$=\mathrm{\$7,500.00}$

2. Your income is at or above $10,000.00, the top of the phase-out range, so none of it is deductible. You can still contribute

   $\text{deductible limit}$$=\mathrm{\$0.00}$

3. This year you put in your planned amount or the limit, whichever is smaller. The deductible part is capped at the deductible limit

   $\text{deductible this year}$$=\mathrm{\$0.00}$

4. The deduction lowers your taxable income, so it saves tax at your current rate

   $\mathrm{\$0.00}\times \mathrm{20\%}$$=\mathrm{\$0.00}$

5. Each year the balance earns its return, then that year's contribution is added

   $\text{after year 1}$$=\mathrm{\$0.00}\times \left(1+0.07\right)+\mathrm{\$6,000.00}$$=\mathrm{\$6,000.00}$

6. Repeat that for 21 years to get the balance when you retire

   $\text{IRA at age 65}$$=\mathrm{\$269,191.06}$

7. Contributions you couldn't deduct were already taxed, so they come back tax-free. Only the rest is taxed

   $\mathrm{\$269,191.06}-\mathrm{\$126,000.00}$$=\mathrm{\$143,191.06}$

8. Withdrawals are taxed as income. At a 10% rate, this is the tax

   $\mathrm{\$143,191.06}\times \mathrm{10\%}$$=\mathrm{\$14,319.11}$

9. Subtract that tax to find what the IRA is worth to you after tax

   $\mathrm{\$269,191.06}-\mathrm{\$14,319.11}$$=\mathrm{\$254,871.95}$